There are a number of excellent books on corporate strategy that merit your attention and that will provide value for your time and for a twenty. There are, of course, others not so excellent, books that at my most generous I would consider hollow in content, penned by pop authors contemptuous of their readers. Unfortunately, in business books as in so much else, popularity is not necessarily reflective of value.
There are times, however, when strategy junkies need a quicker fix than can be provided by books, good or bad. These cravings can be satisfied by reading various business magazines and blogs. Not all are of these are of equal value either and some blogs, especially, are thinly-disguised platforms for selling services and are unabashedly self-serving.
All this is to introduce a business magazine I discovered quite by accident in a store that offers for sale obscure magazines, toy soldiers and Marvel comic memorabilia. The discovery was the Spring ’08 issue of Strategy + Business. Published by Booz Allen Hamilton, the huge strategic management and technology consulting firm, Strategy + Business is - to their credit and my relief – neatly disguised and only mildly self-serving.
Interestingly, it wasn’t the feature articles that most captured my attention but the front section columns. A number of these should get you thinking :
Upturn Thinking in Downturn Years
In market downturns, the companies that emerge strongest are those that, while retrenching, push ahead with long-term strategic planning. One example of a company that did just that is Lucent; even while the telecom hardware business was in decline, CEO Patricia Russo pushed ahead with an initiative to identify new growth areas that would make use of Lucent’s core capabilities and provide stable revenue and income streams going forward.
New Metrics for Media Campaigns
The reach and frequency metrics used in assessing traditional media campaigns are losing relevance in this age of the web, social networking platforms, cell phones, PDAs, podcasts and video games. Marketers are looking to deliver “contextually relevant messages” to specific, i.e., targeted concentrations of potential customers. They are seeking more precise information on how this digital activity correlates to actual sales. As this information becomes available, they will increasingly embrace the pay-for-performance advertising model.
Undiscovered Riches in IP
In an age of commoditization and globalization, you might imagine companies would dig deep to find and exploit assets that yield sustainable differentiation. Among those assets, Intellectual Property may well be the next frontier. Companies are getting wise to the significant revenues that can be gained through patent and technology licensing. IP is moving out of the legal counsel’s office and into the corporate development arena. In fact, in the past 15 years, licensing revenues have burgeoned from $15 billion to $110 billion. To take it to the next level, companies will have to make their intellectual property both serve the business and be a business in its own right.
New Life for Tired Brands
Ford is attempting to revive the Taurus brand out of the ashes of the Five Hundred, and Proctor & Gamble is using Red Zone antiperspirants and deodorants to reposition Old Spice among teen males. Should and can old brands be revitalized? Have the attributes which once made the brands successful been eroded or been made irrelevant by competing brands? Are the products suffering from the poor opinion of its original customer base or poor awareness from new, potential customers? A proposed four-step Brand Vitality Assessment (which, no doubt, Uno Who could conduct) would provide the answers.
All in all, I rate this magazine a lucky find, one for which you might keep an eye out. You might also want to scour the back issues. Go to www.strategy-business.com. Of course, with Booz Allen Hamilton being a mega consultant, you should not expect a free lunch. Not while they’re trying to build the brand at any rate.